Taxing times

Dec 11, 2006, 12.33 AM IST

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The spectre of the draconian tax proposal EET is hovering again over the heads of lakhs of salaried employees, who are about to retire in the next financial year and thereafter. If implemented, this measure will rob them of a large chunk of their lifetime savings accumulated over the last three or four decades.

I wonder, what stand the so-called champions of working class, viz., the left parties, are taking over this impending Jiziya tax! The urban middle class is already reeling heavily under the tax burden of such levies like education cess, surcharge on IT, service tax, fringe benefit tax, cash withdrawal tax etc. And, as if, this is not found sufficient to break the backbones of the white-collared urbanites, the threat of abolishing a host of concessions on various types of savings instruments is looming large over their heads.